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A Billionaire’s Sears Fiasco Is Finally Nearing Its End

Bit by bit, the smart money deserted Edward Lampert. Michael Dell, David Geffen, George Soros, the Ziff brothers—by 2012, all of them, and many more, had peeled away. Not even Lampert’s friends could understand why the hedge-fund manager, once hailed as a young Warren Buffett, clung to his spectacularly bad investment in Sears, a dying department store chain. Granted,…

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